Question
Rachel, age 42, established a Roth IRA and contributed $5000 per year for 20 years. Assume the account balance is $297,000 ($100,000 contributions, $198,000 earnings)
Rachel, age 42, established a Roth IRA and contributed $5000 per year for 20 years. Assume the account balance is $297,000 ($100,000 contributions, $198,000 earnings) in 2011. Rachel plans to withdraw the entire amount in 2014 when her marginal tax rate is 25 percent. How much tax would be paid as a result of this decision? Would the result have been different in 2012? How?
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Expert Systems In Auditing
Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi
1st Edition
1349124761, 978-1349124763
